A NOTE ON THE NEW WAVE OF FOREIGN-CURRENCY DEBT FOR LAC NON-FINANCIAL FIRMS

Javier Garcia Cicco and Enrique Kawamura

Revista de Economía Política de Buenos Aires, 2019, issue 18, 50-76

Abstract: This paper presents new evidence on foreign-currency debt of non-financial compa-nies in six Latin-American countries, including years in the aftermath of the sub-pri-me crisis. The paper differentiates between total debt and financial debt in foreign currency. Main results indicate that some firm-specific features are key to unders-tand foreign currency debt. Exporting firms behave differently between total fore-ign-currency debt and financial currency debt. Exporters hold more total foreign-currency debt than the average firm while they hold less financial foreign-currency debt. Foreign-owned firms hold less total debt in foreign currency. Macroeconomic variables only play some role when interacting with specific firm characteristics.

Keywords: foreign-currency debt; firm-level characteristics (search for similar items in EconPapers)
JEL-codes: F15 L62 O14 (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
https://ojs.econ.uba.ar/index.php/REPBA/article/view/1572/2233 (application/pdf)
https://ojs.econ.uba.ar/index.php/REPBA/article/view/1572/2238 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ake:repba1:y:2019:i:18:p:50-76

Access Statistics for this article

Revista de Economía Política de Buenos Aires is currently edited by Adrian H. Ramos

More articles in Revista de Economía Política de Buenos Aires from Universidad de Buenos Aires. Facultad de Ciencias Económicas. Contact information at EDIRC.
Bibliographic data for series maintained by IIEP UBA-CONICET ().